Last Night, Two Major Altcoins on Binance Plummeted to $0 – An Unprecedented Occurrence
Market Crash Overview: The cryptocurrency market experienced significant declines, with many altcoins, including IoTeX (IOTX) and Cosmos (ATOM), briefly dropping to zero on Binance.
Cause of the Decline: Arthur Hayes, co-founder of BitMEX, attributed the crash to automatic liquidations of collateral linked to cross-margined positions by major centralized exchanges, suggesting a lack of liquidity and algorithmic trading as contributing factors.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for IOTX
Technical Sentiment Analysis for IoTeX (IOTX). As of , IoTeX (IOTX) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 1 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for IOTX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, IOTX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
IoTeX (IOTX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00283 | 0.00384 | 0.00453 | 0.00554 | 0.00623 | 0.00724 | 0.00793 |
| Fibonacci | 0.00384 | 0.00449 | 0.00489 | 0.00554 | 0.00619 | 0.00659 | 0.00724 |
About IOTX
About the author
